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Intel set to complete sales negotiations with McAfee

Intel to buy McAfee in £5bn deal

20 August 2010

Microchip maker Intel is set to complete sales negotiations with McAfee after the firm agreed to buy the online security giant in a $7.68 billion (£5 billion) deal.

Intel will pay $48 (£30) a share for McAfee, representing a 60 per cent premium on the value of the stock on Wednesday's close.

Dave DeWalt, chief executive of McAfee, claimed the partnership will significantly improve online security.

He said: "The cyber threat landscape has changed dramatically over the past few years, with millions of new threats appearing every month.

"We are joining forces to tackle this next-generation cybersecurity issue, which impacts everyone and anything connecting to the internet."

Intel plans to build microprocessors with in-built security features for a range of products including laptops and phones.

The two firms have been working together for the past 18 months and expect the deal to be formally completed next year.

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